The seventh meeting of the Steering Committee for Vietnam Energy Partnership Group in Hanoi (Photo: VietnamPlus) Hanoi (VNA) – Ambassador and head of the European Union (EU) Delegation to Vietnam Giorgio Aliberti has suggested the Secretary of the Just Energy Transition Partnership (JETP) exert more efforts to propel bilateral cooperation in support of Vietnam's green transition process.
He made the suggestion while co-chairing the seventh meeting of the Steering Committee for Vietnam Energy Partnership Group (VEPG) in Hanoi on March 16 with Deputy Minister of Industry and Trade Dang Hoang An and World Bank Country Director for Vietnam Carolyn Turk.
The meeting was meant to review the VEPG's activities in 2023, especially regarding the organisation of the high-level VEPG meeting and the implementation of the JETP.
Turk said it is time for all parties concerned to synchronise the financial sources of both the State and the private sector. Therefore, there is a need for greater involvement of the private sector in the renewable energy field.
An said in January 2022, VEPG organised its fifth high-level meeting and officially approved the revised VEPG Terms of Reference for the 2022-2027 period. The prominent changes include the establishment of three technical working groups on power strategy planning, grid and grid infrastructure integration, and energy market, along with the existing renewable energy and energy efficiency groups.
Ambassador and head of the European Union (EU) Delegation to Vietnam Giorgio Aliberti (Photo: VietnamPlus) Aliberti said in order to achieve the net-zero emission goal set by the Vietnamese Government by 2050, the EU needs to work closely with the Vietnamese Government, including reforming each energy sector and gradually reducing coal-fired power. By 2040, the goal is for Vietnam to reduce coal-fired power and transition to more sustainable sources of energy.
He announced the approval of a support package worth 2 million USD for the energy transition programme, along with four additional measures worth 21 million EUR, which aim to enhance efficiency, facilitate energy structure transformation, and improve the power grid system in Vietnam.
With the JETP agreements between Vietnam and the International Partnership Group (IPG), including the EU, the UK, France, Germany, the US, Italy, Japan, Denmark, which were signed and announced in December 2022, the Ministry of Industry and Trade (MoIT) hoped that in the coming time, the relationship between the Vietnamese Government, the MoIT, and the international partners will be further strengthened. They will work together to find common ground and achieve the core values that VEPG aims for.
Ambassador and head of EU Delegation to Vietnam Giorgio Aliberti and WB Country Director in Vietnam Carolyn Turk co-chair the meeting (Photo: VietnamPlus)
Aliberti suggested the JETP Secretariat further strive to boost bilateral ties through initiatives in coordination with relevant ministries such as the Ministry of Natural Resources and Environment, the Ministry of Planning and Investment, the Ministry of Finance, to design reasonable investment management measures, renewable energy planning, energy storage for Vietnam's green transition process.
At the event, a VEPG representative provided updates on the technical working group meetings and task force activities, as well as the overall VEPG action plan for 2023 and the 2023-2027 period.
An assigned the Electricity and Renewable Energy Authority to be responsible for inspecting and reviewing the participation of ministries, agencies and private sector in the VEPG forum. The VEPG Secretariat was tasked with creating a framework to coordinate projects and the involvement of partners in the VEPG./.
